Trudeau Secures Deal to Fast-track 1,700 New Homes in Vaughan, Ontario through National Housing Accelerator Fund

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The Prime Minister of Canada, Justin Trudeau, has announced that the federal government has made a successful agreement with the city of Vaughan, Ontario. This agreement will hasten the construction process of over 1,700 new housing units. Additionally, it is made to encourage the establishment of thousands more homes within the next three years.

This pact with Vaughan was orchestrated under the National Housing Accelerator Fund. This fund, a program boasting $4 billion in financial capacity, was initially introduced during the spring 2022 federal budget. However, the fund only started to accept applications from July of this year.

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As per the federal government, this agreement will allocate more than $59 million to Vaughan. These funds are intended to eradicate any obstacles that could restrict or delay the housing construction process.

Prime Minister Trudeau elaborated on the agreed terms, stating that the influx of funds will facilitate high-density development closer to areas of public transportation. It will also give priority to the building of apartments and affordable housing units, thereby correcting the outdated permitting systems that previously hindered such actions.

Moreover, Vaughan will be making amendments to a current zoning bylaw. This change will allow up to four residential units to be constructed on a single lot.

Notably, the city of London, Ontario, secured the distinction of being the first Canadian city to finalize a deal under the National Housing Accelerator Fund, just last month.